What To Expect After President Biden’s Executive Order On Bitcoin

The recent executive order offers insight into the United States government’s view of Bitcoin and how they intend to become an international leader.

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California Governor Signs Executive Order on Crypto, Exploring Potential For "New Companies, New Jobs, and New Opportunities"...

If California were a country, it would have the world's fifth-largest economy, and today it became the first state in the United States to publicly begin investigating how to broadly adapt to bitcoin and similar advances.

Gavin Newsom, the governor of California, signed an executive order directing state agencies to work in coordination with the federal government to develop regulations for digital currency trading. It also encourages officials to investigate the possibility of integrating broader blockchain technology into the government operations of the state that has created most of the world's technical innovation.

Dee Dee Myers, a senior counselor to Governor Gavin Newsom and head of the Governor's Office of Business and Economic Development, said that evolving blockchain and cryptocurrency technology  "is potentially an explosive creator of new companies and new jobs and new opportunities".

A similar order was signed by President Joe Biden in March, instructing the federal government to conduct studies into the benefits and risks associated with cryptocurrency - now California is following a similar path.

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Author: Ryan Kalbari
Toronto Newsdesk / Breaking Crypto News

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California Governor Signs Executive Order on Crypto...

If California were a country, it would have the world's fifth-largest economy, and today it became the first state in the United States to publicly begin investigating how to broadly adapt to bitcoin and similar advances.

Gavin Newsom, the governor of California, signed an executive order directing state agencies to work in coordination with the federal government to develop regulations for digital currency trading. It also encourages officials to investigate the possibility of integrating broader blockchain technology into the government operations of the state that has created most of the world's technical innovation.

Dee Dee Myers, a senior counselor to Governor Gavin Newsom and head of the Governor's Office of Business and Economic Development, said that evolving blockchain and cryptocurrency technology  "is potentially an explosive creator of new companies and new jobs and new opportunities".

A similar order was signed by President Joe Biden in March, instructing the federal government to conduct studies into the benefits and risks associated with cryptocurrency - now California is following a similar path.

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Author: Ryan Kalbari
Toronto Newsdesk / Breaking Crypto News

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Fidelity To Allow Bitcoin Investments In Retirement Plans

Investment giant Fidelity will reportedly enable its 23,000 business clients to offer Bitcoin accounts for their workers’ 401(k)s later this year.

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Cryptocurrency mode of tax payment to be accepted by Florida

Florida Governor Ron DeSantis indicated an interest in allowing cryptocurrency to be used to pay taxes in the state on Tuesday. The governor made the remarks during a press conference in Wesley Chapel, where he signed a bill requiring financial literacy education into law. The measure makes personal finance education a mandatory for high school graduation. Governer […]

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Bank of Canada collaborating with MIT on CBDC research

The bank will work alongside the MIT Media Labs’ Digital Currency Initiative (DCI) team to examine how “advanced technologies could affect the potential design of a CBDC.”

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Bitcoin And The Dark Side Of The Biden Executive Order

While the executive order didn’t directly challenge Bitcoin, the language of the order hints at future threats that may come.

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US eyeing leadership in global cryptoeconomy?

In a recent Twitter thread, Galaxy Digital CEO Mike Novogratz shared his recent thoughts on the state of the US in the cryptocurrency industry globally. He further claimed that crypto and blockchain can transform the world in previously imagined ways. It also offers the industry much-needed legitimacy, according to Novogratz, by instructing federal agencies to […]

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Economic Adviser to President Biden Shares their 'Crypto Strategy'...

In 2011 Jared Bernstein was was the chief economist and economic adviser to then Vice President Biden (during the Obama Administration) and is now an adviser to President Biden. 

 Bernstein is also a senior fellow at the Center on Budget and Policy Priorities. 

Video Courtesy of CNBC
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“Responsible Development of Digital Assets”: Biden’s Executive Order Unpacked

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Joe Biden Announces Crypto Executive Order; Bitcoin, Ethereum Rebound

The long-awaited — and much-feared — crypto executive order is finally here. Covered: Crypto Executive Order News Lifts Bitcoin And Ethereum Russian Sanctions And The Crypto Executive Order SBF’s Thoughts Crypto Executive Order News Lifts Bitcoin And Ethereum With any luck, you’ll be completely boxed out of meaningful input as your personal goals have nothing […]

The post Joe Biden Announces Crypto Executive Order; Bitcoin, Ethereum Rebound appeared first on CryptosRus.

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White House Executive Order On Crypto TODAY - But It's This LEAKED STATEMENT That Has Investors Putting $15 BILLION Back In Crypto Markets...

Markets have come back to life after a sluggish week following an accidental leak thanks to Treasury secretary Janet Yellen's web team, which accidently posted her statement too early.

For a brief period her site referenced what's planned for later today as already happening, and shared her reaction:

 "President Biden’s historic executive order calls for a coordinated and comprehensive approach to digital asset policy. This approach will support responsible innovation that could result in substantial benefits for the nation, consumers, and businesses."
The page now says "Access denied—You are not authorized to access this page."

Markets reacted to the positive tone and investors quickly added another $15 Billion to the total crypto marketcap following the leak.
That was enough to end fears that a crypto crackdown was coming...
We now know Biden's executive order simply instructs federal agencies to investigate the need for crypto-related regulatory changes, along with any national security and economic issues relating to bitcoin and other cryptocurrencies.


While not based anywhere in reality - crypto is seen by most of the public as 'unregulated'...

Which many say is holding crypto back more than we realize.
For years now, many of Wall Street's biggest investors have pointed to a supposed 'lack of regulations' over crypto as their reason for not investing - which is why it has drawn so many people who generally like the idea of the government staying out until truly appropriate.
Ironically, you can make an argument that everything we need the government to do is already a law - it's illegal to lie to investors, it's illegal to hack, it's illegal to steal - that covers pretty much everything.
Notice how no arrests of scammers have ended with their court cases dismissed after they pointed out 'but we used crypto'? Because the laws already cover any theft or misleading of someone in a way that causes them to lose assets that have a monetary value, is a crime. 
Big Finance Weighs In...

The traditional finance world wants laws that cover crypto specifically - and it looks like their wish will be granted..
Some of the leading companies in the financial sector have made predictions on what could come following reasonable regulations that could give skeptical investors the confidence they need to finally dive in - with JPMorgan predicting $146,000 in Bitcoin's future and Bloomberg predicting it could hit $400,000.

Where This Leaves Us...

It's still important to remember that this is the beginning of a process -  Biden has requested Federal agencies to submit their analysis of what is needed for cryptocurrencies to function within our legal framework - and we have no idea what their answers will be.

Let's hope today is an indication of the tone this process will continue to have moving forward. 

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Author: Ross Davis
E-Mail: Ross@GlobalCryptoPress.com
Silicon Valley Newsroom


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Biden Signs Executive Order on U.S. Crypto Strategy

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US President Joe Biden to Sign Executive Order on Crypto this Week

The executive order will direct multiple government agencies to study CBDC and cryptocurrency to design a comprehensive strategy. (Read More)

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Treasury Department Seeks to Educate the Public on Risks of Crypto Investing

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Biden Plans To Sign Executive Order on Crypto Sometime THIS WEEK...

According to a report by Reuters on Monday, President Joe Biden is planning to issue an executive order on cryptocurrency policy this week, citing a source familiar with the situation.
The article claims, the order, which could aim to appoint a person with regulatory authority to oversee the crypto market, could come as early as Wednesday.
Regulators keen to close the gap on what they regard as trading activity occurring outside their remit continue to debate jurisdiction over digital asset market monitoring.

In this video, William Luther, a professor of economics at Florida Atlantic University and a fellow with the Bitcoin Policy Institute, argues Ukraine is 'essentially crowdfunding its military efforts' using crypto.

Video Courtesy Of Fox Business
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Biden to Sign Executive Order on Cryptocurrencies

US president Joe Biden is ready to sign the government’s strategy on cryptocurrency regulation.

Continue reading Biden to Sign Executive Order on Cryptocurrencies at DailyCoin.com.

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Biden Will Sign Executive Order on Crypto This Week: Report

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Biden To Sign Bitcoin, Crypto Executive Order This Week

The President is set to sign the order this week with a focus on national security and regulation.

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Will Biden Issue an Executive Order on Crypto Next Week? If So - What Can We Expect?

President Biden is expected to release an executive order on regulating cryptocurrency next week - here's what it is expected to contain...

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